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Tron News Today: Justin Sun Calls Binance Coin (BNB) “New Bitcoin”

Binance established itself as the largest cryptocurrency and digital asset exchange in the crypto ecosystem. Notably, its native token, Binance Coin (BNB) has lived up to anticipations by mountaineering into the list of top ten cryptocurrencies by market cap. The coin ascended to the 8th position and registered a noteworthy gain.

Even the prominent news publication, Forbes acknowledged the exchange’s performance along with the towering token. Interestingly, this post was shared by the CEO of Binance on his Twitter social media handle.

Also Read: Tron Coin News: Tron and Tether Collaborates, Planning to Issue USDT on Tron Network

Tron News and Justin Sun’s Comments

Justin Sun, Tron foundation’s CEO and founder, congratulated CZ for the achievement. In the last article on “Tron News Today” section, we mentioned about the Tron and Tether collaboration. This time Sun even went to the extent of calling BNB the “new Bitcoin.” Sun was quoted saying,

“Huge Congrats on $BNB, a new #Bitcoin.”

Interestingly, Binance has been growing in popularity. In fact, eToro’s senior analyst, Mati Greenspan had spoken about its industry dominance earlier. Greenspan said,

“Binance coin has been able to buck the crypto correlations principally because people buy it as a way of speculating on industry growth. If the markets are moving it means people are trading, and Binance has a big share of those volumes.”

BNB/USDT and BNB/BTC Pairs

At the time of reporting, BNB is valued at $14 with a market cap of $1.975 billion. The token registers a 24-hour trading volume of $204.6 million while noting a decline of around 8.98%. The coin noted a 23.67% rise in its price over the past week but has dipped by a minimal 1.44% over the past hour. On the other hand, Tron (TRX) is trading at $0.02 a pop, as per coinmarketcap. At the time of reporting, its market cap is $1.5 Billion.

Also Read: TRON Hard Fork Countdown Begins, Only One Hour to go!

It is to be noted that the token is highly traded on its parent exchange Binance, as it registered a cumulative volume of more than $130 million with BNB/USDT and BNB/BTC pairs. LBank is next to Binance in terms of volume of BNB/USDT pair, with a 24-hour volume of $14.5 million. P2PB2B came close to Binance as it registered a volume of $10.45 million on the BNB/BTC pair. On the other hand, as mentioned in our “Tron News Today” section, Tron (TRX/BTC) volume is $5.7 million and Tron (TRX/USDT) volume is $5.3 million on Binance, as per coinmarketcap.

Also Read: Binance Launches Decentralized Crypto Exchange: DEX Testnet